How much do SBA lenders typically lend to a securities brokerage business?

The median SBA approval in NAICS 523120 is $310,000, with the middle 80% of loans between $50,600 and $1,490,000. Across all industries the median is $180,000.

Which lenders are most active in securities brokerage?

By dollars approved: Live Oak Banking Company, Byline Bank, Pinnacle Bank, Cen Cal Business Finance Group, The Bancorp Bank. A lender's experience in your NAICS code matters - underwriters who have seen a hundred deals like yours ask better questions and move faster.

Is securities brokerage considered a risky industry by SBA lenders?

Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 0.0% were charged off, versus 7.6% across all SBA lending. That is below average, which generally makes lenders more comfortable with the sector.

NAICS 523120 · Finance & Insurance

SBA loans for securities brokerage

213 SBA loans worth $125.9M have been approved in this industry since FY2010 - the #526 most-financed NAICS code in the country.

Median loan

$310,000

+72% vs all industries

Typical range

$51K-$1.5M

Middle 80%

Median rate

6.00%

7(a) initial note rate

Median term

10 yr

Charge-off rate

0.0%

vs 7.6% all industries

Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.

Lenders

Most active in this industry

Lender	Loans	Approved
Live Oak Banking Company	31	$28.9M
Byline Bank	12	$15.3M
Pinnacle Bank	1	$4.9M
Cen Cal Business Finance Group	3	$4.7M
The Bancorp Bank	3	$4.6M
Arizona Financial Credit Union	3	$3.7M
First-Citizens Bank & Trust Company	2	$3.7M
Capital Bank	1	$3.6M
The Huntington National Bank	11	$3.3M
Patriot Bank	2	$3.1M

Geography

Where these loans were made

State	Loans	Share
California	32
New York	17
Michigan	14
Ohio	13
Colorado	10
Arizona	10
Indiana	8
Minnesota	8

Approvals by fiscal year

’10

’11

’12

’13

’14

’15

’16

’17

’18

’19

’20

’21

’22

’23

Loan count. Final bar is a partial fiscal year.

Loan sizes

Under $50K
6%
$50K - $150K
20%
$150K - $350K
29%
$350K - $1M
31%
$1M - $2M
9%
Over $2M
6%

Nearby

Other finance & insurance industries

See the sector

Insurance Agencies and Brokerages10,623 · $171,000 Investment Advice2,974 · $264,500 Portfolio Management and Investment Advice737 · $250,000 Mortgage and Nonmortgage Loan Brokers493 · $182,000 Miscellaneous Financial Investment Activities411 · $187,500 All Other Insurance Related Activities401 · $100,000 Portfolio Management392 · $225,500 Financial Transactions Processing, Reserve, and Clearinghouse Activities280 · $250,000

Common questions

How much do SBA lenders typically lend to a securities brokerage business?: The median SBA approval in NAICS 523120 is $310,000, with the middle 80% of loans between $50,600 and $1,490,000. Across all industries the median is $180,000.
Which lenders are most active in securities brokerage?: By dollars approved: Live Oak Banking Company, Byline Bank, Pinnacle Bank, Cen Cal Business Finance Group, The Bancorp Bank. A lender's experience in your NAICS code matters - underwriters who have seen a hundred deals like yours ask better questions and move faster.
Is securities brokerage considered a risky industry by SBA lenders?: Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 0.0% were charged off, versus 7.6% across all SBA lending. That is below average, which generally makes lenders more comfortable with the sector.

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